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Tiptoh 1A
€62,000
total amount raised in round
5 days
remaining
- Eligible for a tax reduction
DISCLAIMER
Every investment decision must be based on an examination of an exhaustive set of information provided by the entrepreneur on their online profile. Spreds only proceeds to a limited verification of this information and does not control the investment opportunity within this company. Spreds did not verify the extent to which the business plan is deemed realistic and does not intervene in determining the final terms of the investment, including the retained maximum valuation. Spreds will align itself with the financial terms negotiated with the co-investor(s).
TIPTOH - NO MILK, JUST PEAS
Tiptoh is a Belgian start-up with a clear mission: to revolutionize the (plant-based) milk market by offering a sustainable, high-quality alternative tailored to the hospitality sector. Its flagship product, the Tiptoh Barista, is made from locally sourced yellow split peas and delivers a smooth foam and neutral taste that perfectly complements coffee. This provides coffee bars and cafes with a sustainable option that meets the demands of professional baristas without compromising on flavour or texture.
A tiny but powerful source of protein: the Yellow Split Pea
Nearly four years ago, Tiptoh's founders, Louis and Arnaud, undertook an in-depth market study, gathering insights from over 1,300 people in Belgium on plant-based dairy alternatives. They found that while demand for plant-based options was on the rise, the market had four core challenges:
- Many customers struggled to find a taste they enjoyed;
- Allergies and intolerances were increasing four times faster than population growth;
- Concerns about the nutritional quality of plant-based milk persisted;
- Consumers lacked versatile products—each plant-based milk seemed suitable only for specific uses.
The answer to these challenges? The yellow split pea: a small but nutrient-dense source of protein. This powerful ingredient is free from major allergens, allows for a delicious, dairy-like taste, is packed with high-quality protein, and provides a versatile alternative that works just like cow’s milk in a one-to-one ratio.
Success Case in Belgium
In just 10 months, Tiptoh Barista has won over 200 specialty coffee bars and brunch spots across Belgium. Focused on cities like Ghent, Antwerp, Brussels, Leuven, and Liège, Tiptoh has tapped into the growing demand for high-quality plant-based milk that works seamlessly in lattes and cappuccinos. Thanks to its silky texture and neutral taste, Tiptoh Barista is crafted to foam perfectly without overpowering the coffee — and it’s backed by competitive pricing against indirect competitors like Alpro and Oatly. With a high sales success ratio of over 50%, driven by the founders' field sales efforts, Tiptoh is steadily capturing the market.
Tiptoh works with over 10 distribution partners, including Bidfood Declerck, Lobet, and Hoppenbrouwers, ensuring quick and regional delivery. Tiptoh’s margins are healthy, surpassing 30% after distribution costs. With over 1,000 coffee places identified as potential leads, Tiptoh is just getting started in Belgium and ready to expand its presence and make waves in the world of plant-based coffee drinks.
Weren't you guys in the supermarket?
Yes, Tiptoh first launched as a retail brand, with products available in over 400 Delhaize and Okay stores. However, after two years in supermarkets, Tiptoh made a strategic decision to focus solely on its Barista line. Competing against big brands in the supermarket sector proved challenging due to razor-thin margins and heavy marketing demands, making it difficult for a start-up to stand out.
With the launch of Tiptoh Barista, things changed fast. This product quickly outperformed the combined volumes of Tiptoh’s retail items — Original, Unsweetened, and Chocolate — with higher margins and a strong market fit in coffee specialty bars. Tiptoh Barista's success validated the decision to step back from supermarkets and focus on delivering quality where it matters most.
Feedback is promising
Feedback from professional baristas has been overwhelmingly positive. Not only are they valued clients, but many have also contributed to the development of Tiptoh Barista. Their comments speak volumes: “Nuanced taste that complements, not overpowers, the coffee”; “Outstanding foamability and texture, a class of its own”; “A bit of a learning curve for consumers, but adoption is strong.” Pea-based milk might sound unconventional, but once customers try it, they’re hooked.
Tiptoh’s online sales channel lets consumers enjoy it at home, and with over 1,000 orders and a stellar 4.73/5 review score, it’s clear Tiptoh has a winner on its hands:
Great milk, good consistency, and perfect for frothing!
I use the Barista milk for everything: in coffee, in mashed potatoes, in sauces… The taste is great (milky, nothing to note). It definitely doesn’t taste like peas. Froths well (for coffee, for example). No specific flavor in mashed potatoes, sauces, etc. Highly recommended! I prefer this milk over oat milk, as the flavor of Tiptoh milk is more neutral." - Annelore ⭐⭐⭐⭐⭐
We now use only this milk daily, not just for drinks but also in cooking. For example, it’s great in a béchamel sauce recipe (yes, really), it works for everything. We’re fans! Long live Tiptoh Barista!" - Valérie ⭐⭐⭐⭐⭐
I was looking for a sustainable and as local as possible plant-based Barista milk that I could use with breakfast, in cooking… just one plant-based milk at home for everything. Since the update, Tiptoh is not only one of the most sustainable alternatives but by far the best in terms of taste and foam quality. I’m absolutely a fan and have already stocked up a bit too much…" - Liza ⭐⭐⭐⭐⭐
Key Milestones
- Over 200 B2B clients gained in just 10 months;
- Strong partnerships with 10+ distributors;
- First steps abroad: Tiptoh lands in France, November 2024;
- Alumni of Start It @KBC and currently mentored by NOA;
- Crowdlending success: €180,000 raised in under two weeks;
- Secured VLAIO grant for R&D and FIT grant for international growth.
Fueling growth and innovation: Tiptoh’s Next Steps
Tiptoh is seeking funding to accelerate its growth and expand its product range for coffee bars and cafés. Building on the success of the Tiptoh Barista, the start-up aims not only to increase its presence in these venues but also to offer an extended lineup of products tailored for the same clients. This strategy will drive higher revenue per customer, improve efficiency in field sales, and increase the success rate of leads from 50% to a projected 70%. The new product in development boasts a high product-market fit, designed to complement the Tiptoh Barista Pea without cannibalizing its sales.
Only 10% of the required funding will support R&D efforts. These funds will go toward final recipe adjustments with Tiptoh’s R&D partner, pilot testing, and gathering insights from Tiptoh’s professional barista community.
The majority—60%—will drive Sales & Marketing, with the founders leading field sales in the initial phase. Once the new product is established, Tiptoh plans to bring on its first sales representative. Brand-building activities will also be ramped up, including in-bar promotions, public latte art events, and targeted social media and influencer campaigns.
Finally, 30% of the funds will support working capital for production and ingredient procurement as Tiptoh scales. With this plan, Tiptoh is ready to deepen its impact in plant-based coffee culture.
Ready to “tiptoh” together?
The name “Tiptoh” embodies the start-ups mission: “walking on your tiptoes to lower your footprint”. Tiptoh’s founders believe that small changes can lead to big differences, and they invite investors to join them in transforming the coffee culture with sustainable, delicious options. By investing in Tiptoh, you’re supporting a brand that’s set to expand, innovate, and make plant-based choices the new standard.
TAX SHELTER 45%
Investments in this company benefit from a 45% personal income tax reduction. Read more…A remaining amount of €138,000 is available for the Tax Shelter benefit.
Fact sheet
Advised by a professional start-up advisor | |
Valuation is set by the co-investor or incubator | |
Co-investor or incubator will be members or observers to the board | |
At the closing, an incubator, accelerator, or studio will have shares | |
At the closing, the entrepreneurs have contributed a minimum of €15,000 in cash in exchange for shares | |
At the closing, a professional co-investor will have invested at least €25,000 | |
Prior fundraising in equity or convertible loan with 10 or more investors | |
Seasoned entrepreneurs | |
Minimum 2 active entrepreneurs | |
Valuation set by an organisation specialized in valuations of comparable size | |
Valuation is less than €1 million or 10x last year’s turnover |
Raise summary
Crowd investments | €62,000 |
Committed by others | €0 |
Amount raised | €62,000 |
Minimum round | €25,000 |
Maximum round | €425,000 |
Shares in the company (total round) | 19.54% |
Pre-money valuation | €1,750,000 |
Post-money valuation min. | €1,775,000 |
Post-money valuation max. | €2,175,000 |